How the gold bullion boom sent a US recession alarm blaring

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Financial Times 11h ago

How the gold bullion boom sent a US recession alarm blaring - Financial Times

Quick Summary:

Goldman Sachs’ own gold-adjusted GDP forecast for the first quarter has been a more optimistic 1.3 per cent, but on Friday it cut its 2025 growth forecast and upped its “recession probability” to 20 per cent.— Larger tariffs will give a larger boost to consumer prices.

US goods import data matches Swiss customs data, which showed gold exports from the country to the US rose to 192.9 tons in January, from 64.2 tons in December.

We noted that most of the widening in the trade deficit since November reflects higher gold imports, which are excluded from GDP because they are not consumed or used in production.